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HIGHLIGHTS
In 2H 2010, 55% of respondents launched new projects with more indicating that they have experienced better (39%) and equal sales (50%) as compared to 1H 2010.
Majority of the buyers were local (96%), whereas the remaining 4% constitutes foreign buyers from Singapore, Europe, China and Korea. 33% of respondents also revealed that majority of their buyers were first time owners. The average units launched were 100 units per project during 2H 2010, with 58% indicated that they have increased their price by an average of 11%.
Lesser number of respondents reported having unsold units as majority indicated having less than 20% unsold units. 35% of the respondents unsold units were within the price range of RM250,000 and below.
74% of respondents do not face problem in building materials. But out of those who faced problems, 2 challenges have been identified i.e. pricing and shortage of labour. Pricing was the main obstacle faced in steel, brick, cement and sand materials whereas labour as well as brick experienced shortage of supply. Apart from that, 82% of respondents also do not face problem in accessing credit from financial institution, particularly bridging finance.
As for 1H 2011, 71% of respondents will be launching new projects, between January to June. Most respondents’ (67%) launches are projects with 150 units and below. Prices of these launches are expected to increase by an average of 13%. More respondents think that property between RM250,000 – RM500,000 is in demand for 1H 2011 period.
In terms of market forecast, respondents anticipate that price will generally increase up to 20% in the next 6 months. Nevertheless, majority are optimistic (61%) of the property market for between January-June 2011.
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